The Arrangement will result in RenGold and Evrim combining in a merger-of-equals, with Evrim acquiring all of the outstanding RenGold common shares (each, a 'RenGold Share') through a share exchange transaction. Concurrently with the Arrangement, Evrim will change its name to
Under the terms of the Arrangement each RenGold Share will be exchanged for 1.2448 Evrim common shares (each, a 'Evrim Share'), which will result in RenGold shareholders and Evrim shareholders immediately prior to the Arrangement each holding 50% of the issued and outstanding shares of Orogen immediately following the Arrangement. In addition, outstanding RenGold stock options and RenGold Share purchase warrants will be exchanged for replacement options to acquire
At the Meeting, the special resolution approving the Arrangement was approved by 99.99% of the votes cast by RenGold shareholders, RenGold optionholders and RenGold warrantholders present in person or by proxy (voting together as a single class). In addition, the Arrangement was approved by 99.98% of the votes cast by RenGold shareholders present in person or by proxy.
Completion of the Arrangement remains subject to approval of the
Contact:
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Email: bfelder@rengold.com
This news release includes certain statements that may be deemed 'forward looking statements'. All statements in this news release, other than statements of historical facts, that address events or developments that RenGold expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur.
Forward looking information relates to statements concerning the percentage of
Although RenGold believe the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Furthermore, the extent to which COVID-19 may impact RenGold's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of RenGold's management on the date the statements are made. Except as required by securities laws, RenGold undertake no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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